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Jefferies posts Q1 profit on strong equities, bond trading
March 21, 2017 / 11:10 AM / 8 months ago

Jefferies posts Q1 profit on strong equities, bond trading

March 21 (Reuters) - Investment bank Jefferies Group LLC reported a quarterly profit, compared with a year-ago loss, helped by strong revenue from its equities and fixed-income securities trading business.

Net earnings attributable to Jefferies were $114.02 million in the first quarter ended Feb. 28, compared with a loss of $166.81 million a year earlier.

Total equities and fixed income revenue rose more than six times to $378.57 million.

Jefferies, a unit of Leucadia National Corp, kicks off the reporting season for investment banks and is often viewed as an indicator of the performance of Wall Street banks. (Reporting by Diptendu Lahiri in Bengaluru; Editing by Maju Samuel)

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